Morgan Stanley Appoints Asia Pacific Head of Transition Management

Hong Kong —

Morgan Stanley (NYSE: MS) today announced the appointment of Richard Surrency as an Executive Director in the Consolidated Equities Division with responsibility for the Transition Management product in Asia Pacific. Based in Singapore, Mr. Surrency started in his new role in early January.

Mr. Surrency, 40, most recently served as the Head of Sales - Asia of The Bank of New York Mellon, where he was responsible for the sale of custody, securities lending, fund administration, and performance & risk services to Asian financial institutions.

"With his extensive institutional experience, Richard will be an important part of the Firm's Transition Management platform as we develop a coordinated and consistent global offering," said David Russell, Head of Morgan Stanley's Consolidated Equities Division for Asia. "Under Richard's leadership, we will leverage Morgan Stanley's best-in-class portfolio trading capabilities to expand our transition services in this increasingly important region."

Scott Field-Marsham, Global Head of Transition Management, based in Hong Kong, said, "Morgan Stanley has a continuous and successful 20 year track record in global transition management. We see this business as a strategically important means of working with our client base, bringing together many parts of the Firm in a coordinated and targeted fashion to deliver customized solutions to unique situations. We are excited about the prospect of Richard working extensively with clients in the Asia region."

Commenting on his appointment, Richard Surrency said, "I am excited to be leading Morgan Stanley's transition management capability in Asia Pacific and look to accelerate the progress the Firm has made in delivering leading-edge transition solutions to customers globally."

Morgan Stanley highlighted that the appointment comes at a time when many institutions are withdrawing from the transition management business.

The Firm's Transition Management group provides the coordinated execution of a change in investment strategy by a fund across multiple asset classes and asset managers, leveraging Morgan Stanley's expertise in global cash flow management, quantitative analytics, portfolio execution and counterparty administration. Transition Management has become a vital service provided to central banks, sovereign wealth funds, pension funds, mutual funds, insurance companies, and other financial institutions that require enhanced project and risk management capabilities during the purchase, liquidation or rebalancing of an investment portfolio.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 37 countries. For further information about Morgan Stanley, please visit

Media Relations Contact: Nick Footitt, +852.2848.6847